Sunday, April 20, 2014

Is A New World Currency Possible When Nations Approach Bankrupt Future?

When it comes to spending more money than is taken in, most nations around the world are all in the same boat. I get amused watching commercials on television talking about all the gloom and doom that will befall the planet when world currencies go into free fall and become worthless. While there is some truth to what these modern day Gold merchants are selling, the key part they are leaving out is that all world nations will likely go broke at the same time. So what will happen if that does occur? My guess is that a single new world currency will be created and at that time the entire monetary system of the world will just start over again. Anyone holding vast sums of old money, will probably be simply out of luck as their vast fortunes are turned into Monopoly money almost overnight. The biggest losers would be the extremely rich few who have been loaning nations like the United States trillions of dollars for decades. Mind you, this would not happen unless or until old money became so worthless that no one wanted to use it anymore. To short term thinkers, the creation of a new world currency probably seems like total madness. However, it might be the only way to save a bankrupt world from itself. I certainly hope this does not happen, but at some point in time something will have to be done. The idea that any free government will do the right thing and start living within it's means is nothing more than a dream. While politicians continue to spend more money than they take in through taxation - eventually, our old money will become worthless and the powerful few people who run this world will have no choice, but to start the whole process over again.

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